POWERED BY MOMENTUM MEDIA
ESSSuper expands investment menu
ESSSuper has expanded its investment menu for members, unveiling a new Balanced Growth Managed investment option.
The option, made available from 23 July 2024, is open to all members with an accumulation plan, beneficiary account, or income stream.
It includes a range of higher-risk, higher-return asset types along with a range of lower-risk defensive assets to support stability.
Around 71 per cent of the option targets growth assets and 29 per cent targets defensive assets.
Unpacking these allocations, the $36 billion fund indicated around a quarter (31.5 per cent) is in international shares while 26 per cent is in Australian shares.
Meanwhile, 8.5 per cent is allocated to credit, 8 per cent to cash, 8 per cent to infrastructure, and 6.5 per cent to property.
Additionally, 5.5 per cent is earmarked for alternative growth and 6 per cent is allocated to defensive fixed income.
The Balanced Growth Managed option will be actively managed, ESSSuper said, which “allows us to make strategic adjustments and timely responses to market changes”.
In the last financial year, ESSSuper’s default Balanced option delivered a return of 7.12 per cent.
The fund’s Growth option and Balanced Growth option delivered 9.92 per cent and 11.08 per cent, respectively.
Last month, ESSSuper also announced it is set to welcome new additions to its executive leadership team in the new financial year.
Its new chief financial officer Therese Kenny makes the move from commercial real estate investment manager MaxCap and will join in August.
Meanwhile, Stuart Wilkinson will join as its first chief member officer in October.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
